Examples of Program Treasurer in a sentence
The Parties shall select a Party to serve as the Program Treasurer.
Should the Program experience a shortfall in funding during any Annual Term, the Program Treasurer, with the approval of Party Representatives, shall provide written notice to the Parties of the shortage, and the City Parties shall remit payment of required amounts within thirty (30) days’ receipt of the same, with the amount of each City Party’s payment to be based on the Cost Allocation Plan.
The identity of the Program Treasurer shall be memorialized in writing, and the Party Representatives may alter the identity of the Program Treasurer at any time, and the Program Treasurer may resign at any time, both without penalty, cause, or justification; provided that as much advance notice as possible shall be afforded in the case of Program Treasurer resignation.
The Parties shall designate the Program Treasurer to serve as the contracting agent for such purposes, and the selection of a third- party to prepare the Annual Report shall be subject to approval of the Party Representatives.
The Program Treasurer shall cause an independent financial audit of the Program Accounts to be completed for each Annual Term (June – July) during the Term, and the report shall be presented to the Parties at the Annual Meeting (“Financial Audit”).
The Termination Fee shall be paid by the terminating City Party to the Program Treasurer not later than six (6) months before the effective date of termination.
Not later than sixty (60) days prior to the commencement of each Annual Term, the Parties shall finalize the Party Shares for the ensuing Annual Term based on the Cost Allocation Plan, and notice of each Party’s Share shall be provided by the Program Treasurer not later than thirty (30) days immediately preceding commencement of the applicable Annual Term.
Thereafter, a rotation of the next Participating City to serve as Program Treasurer shall be selected at a scheduled meeting of Annual Review of Party Usage described in Section 6.4.
Each Party’s incremental increase in a contribution resulting from a Party’s nonpayment will be due within thirty (30) days of notification by the Program Treasurer.
Subject to the foregoing and following completion of construction of the New Navigation Center by the Host City, the Parties’s designation of a the Program Treasurer shall serve an initial two (2) years for program operation, or such term that mutually agreed by the Party Representatives.